C WorldWide Group Holding A S Sells 18,128 Shares of Synopsys, Inc. (NASDAQ:SNPS)

C WorldWide Group Holding A S reduced its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS) by 24.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,728 shares of the semiconductor company’s stock after selling 18,128 shares during the period. Synopsys makes up 0.4% of C WorldWide Group Holding A S’s holdings, making the stock its 28th largest position. C WorldWide Group Holding A S’s holdings in Synopsys were worth $28,180,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Gotham Asset Management LLC grew its position in Synopsys by 35.9% during the 3rd quarter. Gotham Asset Management LLC now owns 8,428 shares of the semiconductor company’s stock worth $3,868,000 after purchasing an additional 2,227 shares during the last quarter. abrdn plc grew its holdings in shares of Synopsys by 56.9% during the fourth quarter. abrdn plc now owns 84,369 shares of the semiconductor company’s stock valued at $43,442,000 after buying an additional 30,581 shares during the last quarter. Comerica Bank acquired a new position in shares of Synopsys in the 3rd quarter valued at $14,203,000. Simplicity Solutions LLC raised its stake in Synopsys by 55.5% in the 4th quarter. Simplicity Solutions LLC now owns 4,310 shares of the semiconductor company’s stock worth $2,219,000 after acquiring an additional 1,539 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC acquired a new stake in Synopsys during the 3rd quarter worth about $1,606,000. Institutional investors and hedge funds own 85.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SNPS. Needham & Company LLC restated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a research note on Friday, March 22nd. Rosenblatt Securities reissued a “buy” rating and set a $615.00 price target on shares of Synopsys in a research report on Thursday, March 21st. StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Piper Sandler began coverage on shares of Synopsys in a research note on Thursday, April 4th. They issued an “overweight” rating and a $665.00 price objective on the stock. Finally, Robert W. Baird boosted their target price on shares of Synopsys from $624.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $601.00.

Synopsys Price Performance

SNPS stock traded up $13.55 during mid-day trading on Friday, reaching $543.66. 997,562 shares of the company’s stock were exchanged, compared to its average volume of 908,153. The stock’s 50 day moving average is $563.73 and its 200 day moving average is $535.97. Synopsys, Inc. has a 12-month low of $362.06 and a 12-month high of $629.38. The company has a market cap of $82.91 billion, a price-to-earnings ratio of 59.87, a price-to-earnings-growth ratio of 3.10 and a beta of 1.06.

Synopsys (NASDAQ:SNPS) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.13. Synopsys had a return on equity of 22.88% and a net margin of 22.96%. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the firm posted $1.75 EPS. Synopsys’s revenue was up 21.1% compared to the same quarter last year. On average, research analysts forecast that Synopsys, Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Transactions at Synopsys

In other news, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total value of $3,081,669.03. Following the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at $11,587,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Sassine Ghazi sold 10,294 shares of Synopsys stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $577.51, for a total transaction of $5,944,887.94. Following the transaction, the chief executive officer now owns 61,863 shares in the company, valued at approximately $35,726,501.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John F. Runkel, Jr. sold 5,319 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the completion of the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $11,587,400. The disclosure for this sale can be found here. Insiders sold 26,832 shares of company stock valued at $15,464,992 over the last 90 days. 0.66% of the stock is currently owned by corporate insiders.

Synopsys Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.